Farther Finance Advisors LLC Boosts Stake in PACCAR Inc (NASDAQ:PCAR)

Farther Finance Advisors LLC lifted its holdings in PACCAR Inc (NASDAQ:PCAR) by 26.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,434 shares of the company’s stock after purchasing an additional 1,970 shares during the quarter. Farther Finance Advisors LLC’s holdings in PACCAR were worth $927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Cullen Frost Bankers Inc. increased its position in PACCAR by 8.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after acquiring an additional 6,494 shares during the last quarter. LPL Financial LLC increased its position in PACCAR by 6.1% during the fourth quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock valued at $22,094,000 after acquiring an additional 12,143 shares during the last quarter. American Century Companies Inc. increased its position in PACCAR by 15.8% during the fourth quarter. American Century Companies Inc. now owns 631,369 shares of the company’s stock valued at $65,675,000 after acquiring an additional 86,215 shares during the last quarter. Natixis Advisors LLC increased its position in PACCAR by 20.8% during the fourth quarter. Natixis Advisors LLC now owns 1,042,761 shares of the company’s stock valued at $108,468,000 after acquiring an additional 179,577 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd increased its position in PACCAR by 32.4% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 31,980 shares of the company’s stock valued at $3,313,000 after acquiring an additional 7,833 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In related news, Director Pierre R. Breber acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were acquired at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the transaction, the director now directly owns 13,015 shares in the company, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.02% of the stock is owned by corporate insiders.

PACCAR Price Performance

Shares of PACCAR stock opened at $91.88 on Friday. The stock has a 50 day moving average of $92.08 and a 200 day moving average of $101.38. PACCAR Inc has a 12 month low of $84.65 and a 12 month high of $118.81. The firm has a market cap of $48.23 billion, a PE ratio of 11.62, a PEG ratio of 2.77 and a beta of 0.95. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same period in the previous year, the company posted $2.27 earnings per share. PACCAR’s quarterly revenue was down 16.0% on a year-over-year basis. On average, research analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Wednesday, May 14th. PACCAR’s payout ratio is presently 20.00%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Melius Research set a $120.00 price objective on PACCAR in a research report on Tuesday, March 18th. Truist Financial cut their price target on PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Morgan Stanley lowered PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target for the company. in a report on Wednesday, April 16th. Royal Bank of Canada cut their price target on PACCAR from $106.00 to $97.00 and set a “sector perform” rating for the company in a report on Thursday, May 8th. Finally, Melius raised PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $104.14.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.